Information Relating to the Consolidated Statement of Cash Flows

6 Months Ended

Jun. 30, 2023

Supplemental Cash Flow Elements [Abstract]

Information Relating to the Consolidated Statement of Cash Flows

Information Relating to the Consolidated Statement of Cash Flows

	Six Months Ended June 30
	2023		2022
	(Millions of dollars)
Distributions more (less) than income from equity affiliates included the following:
Distributions from equity affiliates	$	1,476	$	1,386
(Income) loss from equity affiliates	(2,828)		(4,552)
Distributions more (less) than income from equity affiliates	$	(1,352)	$	(3,166)
Net decrease (increase) in operating working capital was composed of the following:
Decrease (increase) in accounts and notes receivable	$	1,205	$	(8,625)
Decrease (increase) in inventories	(951)		(789)
Decrease (increase) in prepaid expenses and other current assets	(1,406)		(479)
Increase (decrease) in accounts payable and accrued liabilities	(531)		8,219
Increase (decrease) in income and other taxes payable	(3,265)		1,269
Net decrease (increase) in operating working capital	$	(4,948)	$	(405)
Net cash provided by operating activities included the following cash payments:
Interest on debt (net of capitalized interest)	$	232	$	262
Income taxes	6,616		4,414
Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts:
Proceeds and deposits related to asset sales	$	171	$	1,263
Returns of investment from equity affiliates	153		1,086
Proceeds and deposits related to asset sales and returns of investment	$	324	$	2,349
Net sales (purchases) of marketable securities consisted of the following gross amounts:
Marketable securities purchased	$	(287)	$	(7)
Marketable securities sold	196		6
Net sales (purchases) of marketable securities	$	(91)	$	(1)
Net repayment (borrowing) of loans by equity affiliates consisted of the following gross amounts:
Borrowing of loans by equity affiliates	$	(222)	$	(20)
Repayment of loans by equity affiliates	33		49
Net repayment (borrowing) of loans by equity affiliates	$	(189)	$	29
Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts:
Proceeds from issuances of short-term debt obligations	$	—	$	—
Repayments of short-term debt obligations	—		—
Net borrowings (repayments) of short-term debt obligations with three months or less maturity	(104)		36
Net borrowings (repayments) of short-term obligations	$	(104)	$	36
Net contributions from (distributions to) noncontrolling interests consisted of the following gross amounts:
Distributions to noncontrolling interests	$	(9)	$	(36)
Contributions from noncontrolling interests	6		—
Net contributions from (distributions to) noncontrolling interests	$	(3)	$	(36)
Net sales (purchases) of treasury shares consisted of the following gross and net amounts:
Shares issued for share-based compensation plans	$	181	$	5,452
Shares purchased under share repurchase and deferred compensation plans	(8,128)		(3,755)
Net sales (purchases) of treasury shares	$	(7,947)	$	1,697

The Consolidated Statement of Cash Flows excludes changes to the Consolidated Balance Sheet that did not affect cash.

The “Other” line in the Operating Activities section includes changes in postretirement benefits obligations and other long-term liabilities.

The company paid dividends of $1.51 per share of common stock in second quarter 2023. This compares to dividends of $1.42 per share paid in the year-ago corresponding period.

The components of “Capital expenditures” are presented in the following table:

	Six Months Ended June 30
	2023		2022
	(Millions of dollars)
Additions to properties, plant and equipment	$	6,571	$	4,028
Additions to investments	166		831
Current-year dry hole expenditures	58		116
Payments for other assets and liabilities, net	—		169
Capital expenditures	$	6,795	$	5,144

The table below quantifies the beginning and ending balances of restricted cash and restricted cash equivalents in the Consolidated Balance Sheet:

	At June 30				At December 31
	2023		2022		2022		2021
	(Millions of dollars)				(Millions of dollars)
Cash and cash equivalents	$	9,292	$	12,029	$	17,678	$	5,640
Restricted cash included in “Prepaid expenses and other current assets”	234		524		630		333
Restricted cash included in “Deferred charges and other assets”	874		803		813		822
Total cash, cash equivalents and restricted cash	$	10,400	$	13,356	$	19,121	$	6,795

Additional information related to restricted cash is included in Note 12 Fair Value Measurements under the heading “Restricted Cash.”